It is nice to be rich. People in India and Asia are heavily reliant upon oil and gas coming through the strait. When prices shoot up by a multiple, guess what happens? The poorest people have to do without cooking gas. “Rationing” is a cute word to mean the poor take the hit on the chin.

There is enormous, real suffering hitting those who can least handle it.

Edit: I would add that those in the renewables industry are absolutely making lemonade off the situation. Energy analysts agree that short term profits will go up, but long term, everyone is going to be running to renewables. No country wants to have this existential fuel disruption risk hanging over their heads.